http://www.bbc.co.uk/news/business-41582755
So evidently in real terms property prices have fallen outside the south east. And in some places have never recovered.
The way I see it in london is the super prime multi million stuff has been hit as has the traditional leafy commuter hot spots like Kingston/Wimbledon and the likes of Putney/earlsfield/Balham etc as the values were very strong and the prices high (half a million plus properties) these areas have already done their up and coming thing ages ago, it's the areas that are in this phase now that have seen the most growth.
For example in SE19 (Crystal Palace) I bought a flat for £207k 3 years ago, didn't think much about price rises until right in the middle of brexit week one downstairs sold for £320k to a buyer on 'location, location, location tv program. So my flat has seen huge growth in 3 years but that's because the area was undervalued compared to its neighbours and I am not foolish enough to think that level of growth will continue the area was just playing catch up to the likes of Streatham, Brockley Etc.
Since I have been living here it's changed massively with dog grooming parlours, nick-nack and cushion shops for bored housewives, artisan hand made chocolates and sourdough pizza.
If you can spot the next area like this then you are unlikely to take a hit if things go south.
I had no idea this was going to happen, I just got lucky on picking an area/street/property.